ChrysCapital, a leading India-focused private equity firm, today announced the closing of a $700-million continuation fund anchored by HarbourVest Partners, LGT Capital Partners and Pantheon Ventures.
The newly closed Continuation Fund has acquired a stake in the National Stock Exchange. The stake originally belonged to ChrysCapital VI, LLC (“Fund VI”) which invested in NSE in 2016 and will continue as a significant, long-term shareholder in the company through the Continuation Fund.
The transaction provided Fund VI investors an opportunity to monetise the performance on a highly successful investment, while allowing Continuation Fund investors the opportunity to invest in the world’s largest derivatives exchange. As part of the transaction, Fund VI investors were also provided an option to roll their value into the Continuation Fund.
The largest of its kind transaction in India was well oversubscribed and ranks among the largest across the Asia Pacific.
HarbourVest Partners and LGT Capital Partners led the structuring of the Continuation Fund. UBS Private Funds Group served as the exclusive financial advisor to ChrysCapital. Cooley LLP advised ChrysCapital and Kirkland & Ellis LLP acted for HarbourVest Partners and LGT Capital Partners.
ChrysCapital, is one of the largest and most established private equity firm focused on investing in India, with over $5 billion raised across 9 funds. The firm has a 25-year track record of delivering consistent returns to investors.
Since inception, ChrysCapital has invested over $4 billion across over 100 deals, realised $7 billion from 80 full exits and has fully liquidated its first six funds with strong net returns to investors.